Shire lines up Advanced BioHealing deal

Shire is to acquire Advanced BioHealing, a US-based regenerative medicine company, for $750m in cash

Shire has acquired Advanced BioHealing, a US-based regenerative medicine company, for $750m in cash. The deal will see Shire own the global rights for DERMAGRAFT, a regenerative bio-engineered skin substitute indicated for use in the treatment of diabetic foot ulcers greater than six weeks in duration, and will continue to invest in the development of new indications and new geographies, pending regulatory approvals.

Mike Cola, president of Shire's Specialty Pharmaceuticals business, said: "This acquisition is a strong and complementary strategic fit for Shire. We will invest in the strengths of Advanced BioHealing's specialist commercial team, its manufacturing and its product development.

“We believe there's an opportunity to create more value from DERMAGRAFT and Advanced BioHealing's proprietary technology and that with Advanced BioHealing's team joining Shire, we can build Advanced BioHealing into an exciting new business providing regenerative medicine for patients' unmet needs."

The deal is subject to customary conditions, including obtaining anti-trust clearances.